The Levels to Watch

Buying the dip has been a winning proposition over the past five years, but has something changed? The damage suffered in last week's selloff had that "stairway up, elevator down" feel to it and this lackadaisical market was suddenly motivated to move. At the tail end of last week, the S&P 500 broke down sharply from a consolidation pattern. Does this action set up a buying opportunity, or open the door to further losses?

The normal pattern from here is a rally, as traders conditioned to buy the dip perform the act that has worked so well for years. This behavior has been reinforced by consistent rewards, assuring that it will be repeated....305 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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